Purchase of vacant commercial property

Bridging loan | First charge | Land and former winery/storage facility | Devon

Client’s circumstances: The client, a builder/contractor, was looking to buy a former piggery that had been converted into a winery/storage facility, together with a piece of land to the north of the property. The property and the land sat on two separate freehold titles.

LandlordInvest’s service: Within five working days, LandlordInvest arranged a first charge bridging loan of £108,505, with a loan term of 6 months at 54.3% LTV.

The result: The client was unable to repay the loan by the maturity date due to a refinancing offer falling through. Understanding the circumstances, LandlordInvest granted the borrower additional time to refinance the loan which was eventually paid in full.

Investment through LandlordInvest involves lending to individuals and companies, so your investment can go down as well as up. Borrowing through LandlordInvest involves entering into a mortgage contract secured against a property as the borrower. Your property may be repossessed if you do not keep up repayments on your mortgage.

LandlordInvest Limited is authorised and regulated by the Financial Conduct Authority (FCA) (FRN 660926). LandlordInvest Limited is not covered by the Financial Services Compensation Scheme (FSCS).

Loans provided to borrowers through LandlordInvest are provided solely for business purposes. Loans are therefore not regulated by the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974. You should seek independent legal advice if you are in any doubt as to the consequences of the loan not being a regulated agreement under those Acts.

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